Fed Prez Slams Wall Street
Well sure, Wells Fargo and HSBC may have settled lawsuits for insurance overcharging. And maybe a Citigroup affiliate may have violated the Bank Secrecy Act through money laundering. And JPMorgan Chase settled for $1.4 billion the NCUA over mortgage-backed securities fraud.
However, does the recent rash of litigation on Wall Street mean that the whole system is broken? According to one prominent regulator, that indeed is the case.
Originally published on InsideCounsel. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.